Skip to main content
news
The company name of China Vanke is displayed at a news conference announcing the property developer's interim results in Hong Kong, China August 22, 2016. REUTERS/Bobby Yip/File Photo

Paul Hastings and JunHe have advised Onewo, the property services arm of the developer China Vanke, on its $713 million IPO in Hong Kong, with Herbert Smith Freehills and Commerce & Finance Law Offices advising the joint sponsors.

Vanke, which has weathered China's property sector crisis in better shape than most if its rivals, owns 62.9 percent of property management service provider Onewo and is its biggest customer, Reuters said.

Onewo is one of the largest Hong Kong IPOs in 2022 so far, with the value of deals in the Asian financial hub down nearly 90 percent due to a year of Sino-U.S. tension and a tightening regulatory environment in China, Reuters added.

The Paul Hastings team was led by partners Raymond Li, Vincent Wang, and Fan Chaobo, while the HSF team was led by partners Jeremy Shen, Stanley Xie, and Jin Kong. 

JunHe’s team was led by partners Hu Yijin and Yu Yongqiang, who were supported by partners Dong Xiao, Yuan Qiong, Liu Yang, Ye Yurong, and Yao Jiwei. 

The joint sponsors were CITIC Securities, Citigroup, and Goldman Sachs.

 

TO CONTACT EDITORIAL TEAM, PLEASE EMAIL ALBEDITOR@THOMSONREUTERS.COM

Related Articles

Deals

Trilegal, Khaitan guide RMZ-Colt $1.7 bln India data centre JV

by Nimitt Dixit |

Trilegal advised Indian alternative asset owner RMZ Group on its $1.7 billion joint venture with Colt Data Centre Services, which was advised by Khaitan & Co, to invest in the Indian data centre market, as well as the proposed acquisition of stakes in two data centre projects.

Deals

HSF, CC lead on SF Holdings’ $750 mln Hong Kong IPO

by Hu Yangxiaoxiao 胡阳潇潇 |

Herbert Smith Freehills, CM Law Firm, and Grandall Law Firm have advised Chinese logistics provider SF Holdings on its $750 million initial public offering in Hong Kong, with Clifford Chance and King & Wood Mallesons advising the joint sponsors.

Deals

Bakers, HSF act on PE acquisition of Japan’s jinjer

by Nimitt Dixit |

Baker & McKenzie (Gaikokuho Joint Enterprise) has advised private equity firms J-STAR Co and Potentia Capital on their joint acquisition of jinjer, one of Japan’s leading HR SaaS players. While financial terms were not recorded, news reports value the deal at $500 million.